Parma Homeowners Insurance

Your Complete Guide to Parma, OH Homeowners Insurance

How to find a reliable home insurance policy at an affordable price.

Parma Ohio homeowners insurance

Homeowners in Parma need insurance to protect one of their largest investments. Whether you've recently moved or have owned your home for years, now is a great time to consider the types and amounts of insurance you carry on your home. 

An independent insurance agent can help you evaluate your current coverage and get multiple quotes from trustworthy insurance companies. Contact a Parma agent today to get started building your ideal home insurance policy. 

How Much Does Homeowners Insurance Cost in Parma, OH?

In Parma, you'll pay less on average for your home insurance than the national average. Even so, shopping around could save you significant cash on your policy premiums. 

  • National average yearly premium: $1,173
  • Ohio average yearly premium: $819
  • Ohio is one of the least expensive states for home insurance.

Averages are useful benchmarks, but you'll need quotes from different insurance companies based on your specific information. Home insurance costs vary widely based on a number of factors: 

  • The size, age, and value of your home
  • The type of home you are insuring (e.g., single-family detached home, condo, manufactured home, vacation home, etc.)
  • The number of stories in your home and whether it has a basement
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score
  • Whether you are bundling your coverage with another policy like car insurance or life insurance

When you compare quotes, you can count on your agent to help you decide which coverage works best for your home and your budget. 

Does Parma Homeowners Insurance Cover against Catastrophic Events?

Your home insurance covers you against many common hazards. This includes catastrophic events that could cause damage to your home and property. Work with your agent to make sure your contents and dwelling coverage limits are high enough to allow you to replace or rebuild after a covered event. 

Catastrophic Events in Ohio

  • Number of federally declared disasters in Ohio: 54
  • Most common reasons for disasters in OH: Severe storms
  • The average number of tornadoes per year in Ohio: 19.2

The top five risks for homeowners in Ohio:

  • Severe storms and lightning
  • Flooding and water damage
  • Tornadoes
  • Burglary and other property crimes
  • Heavy snow

These hazards are typically covered by homeowners insurance, with the exception of flooding. Even if the flood is the result of a covered event, you'll need a separate insurance policy to handle that damage. 

If you have concerns about possible flooding in your area, your agent can help you supplement your coverage with a flood insurance policy through the National Flood Insurance Program (NFIP).

Why Do Parma Homeowners Need Liability Insurance?

It's impossible to prepare for a liability lawsuit, but you can insure against this type of expensive occurrence. Your homeowners insurance policy includes liability coverage that helps pay for damages, injuries, and legal fees that result from something that happens on your property or accidents for which you can be held legally liable. 

  • A visitor in your home trips on your stairway and suffers a back injury.
  • Your child breaks your neighbor’s window while playing basketball in your driveway.
  • Your dog gets loose and bites a jogger.
  • A local business sues you for libel after a negative review you posted on social media.

Your Parma agent can talk with you about how liability insurance helps protect your home and your financial well-being. You may want higher liability limits than your homeowners insurance policy allows. An umbrella insurance policy offers an affordable way to boost your coverage. 

Does Parma Homeowners Insurance Cover against Burglaries?

The burglary rate in Ohio is slightly higher than the national average. 

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in Ohio: 5.76

Having your home broken into or your property vandalized is stressful. Your homeowners insurance policy can compensate you for your financial losses and help you pay to fix property damage resulting from a break-in. 

A home security system offers an effective theft deterrent, and insurance companies are often willing to discount your insurance premiums if you use a high-quality burglar alarm. Your agent can help you find any discounts offered by specific insurance companies. 

What about Second Home and Vacation Home Insurance?

If you are among the Parma residents that own more than one home, you may need special insurance policies to protect your investment. Homes that aren't your primary residence may have additional risks that you'll need to carefully consider when you build your insurance plan. 

Tenant-occupied second homes have a higher statistical risk for property damage. Landlord insurance can help protect the owner. Vacation homes that are unoccupied for the majority of the year have an increased risk of property damage and break-ins. Vacant home insurance can help you manage that risk. 

Your independent insurance agent can help you review your coverage needs and make sure that all of your property is properly insured. 

Why Work with an Independent Insurance Agent in Parma, OH?

The easiest way to get the most homeowners coverage for your money is to work with a Parma independent insurance agent. These agents work on your behalf and can shop dozens of insurance companies for you. 

Independent Parma agents are ready to help you get the coverage you need. Contact an insurance agent close to home today to get started.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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http://www.naic.org/prod_serv/AUT-PB-14.pdf

https://www.census.gov

http://www.city-data.com/city/Parma-Ohio.html

https://www.fema.gov/data-visualization-disaster-declarations-states-and-counties